Convenience Store and Gas
New
For Sale
$474,999
1798 Highway 701 North, Loris, SC 29569
Operating retail fuel property with updated pumps, canopy improvements, and Highway 701 frontage.
Property Size1,318 SF
Lot Size2.45 Acres
Price / SF$360.39
Days on Market1
Property Features for 1798 Highway 701 North
General Information
Standard status
Active
Size
1,318 SF
Lot size
2.45 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Amenities
modernized canopy/awning
Building Details
Year Built
1970
Listing Agency:
Century 21 Barefoot Realty
Listed By:
The Mills Group Team · License #17587
(843) 252-0847
Source:
Surfsiderealtysales
Added: Sep 22
Last Checked: Sep 22 at 1:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Barefoot Realty
Investment Insights
Based on property information with market context.
This operating fuel-and-retail property combines a convenience store with a gas station on a 2.45-acre site. The improvements include newer fuel pumps, a modernized canopy, and interior retail space serving the existing operation. The building was constructed in 1970.
The property fronts Highway 701 North at 1798 Highway 701 North in Loris, South Carolina. The site provides a substantial land component alongside the established store and fueling facilities, with additional acreage that may support future planning subject to applicable approvals.
The property fronts Highway 701 North at 1798 Highway 701 North in Loris, South Carolina. The site provides a substantial land component alongside the established store and fueling facilities, with additional acreage that may support future planning subject to applicable approvals.
Key Highlights
- Operating convenience store and gas station
- 2.45‑acre commercial site
- Newer fuel pumps
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,743
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$434,860
$434.9K
Cap Rate 7%
$310,614
$310.6K
Cap Rate 9%
$241,589
$241.6K
Market Conditions
NOI Build-Up for 1,318 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.7K $22.56/SF
− Vacancy
−$743 −$0.56/SF
EGI
$29.0K $22.00/SF
− OpEx
−$7.2K −$5.50/SF
NOI
$21.7K $16.50/SF
Area
Horry County, SC
Vacancy
2.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$434,860
Cap Rate 7%
$310,614
Cap Rate 9%
$241,589
Alternative Uses
Best Use
Specialty Retail
$310.6K
$271.8K – $362.4K
NOI $21,743 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$274.5K
$240.2K – $320.2K
NOI $19,214 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$334.0K
$292.3K – $389.7K
NOI $23,382 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 29569, SC
17,048
Population
7,504
Households
2.3
Avg Household Size
45
Median Age
10%
College-Educated
82%
High-School Grad
170.3 sq mi
ZIP Area
100
Density / Sq Mi
$50,659
Median Household Income
$34,719
Median Earnings
$776
Median Rent
$190,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Operating retail fuel property with updated pumps, canopy improvements, and Highway 701 frontage.
Where is this gas station located?
The property is located at 1798 Highway 701 North Loris, SC.
What is the asking price?
The asking price for this property is $474,999.
What are key features of this property?
This property features: Operating convenience store and gas station; 2.45‑acre commercial site; Newer fuel pumps
